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“Not only will our cards be the access point to a range of Velocity benefits including seamless check-in, access to lounges and priority services, they will make spending in Australia and overseas an easier, more rewarding experience.

“Through our strong global network with Etihad Airways, Singapore Airlines, Delta Air Lines and Air New Zealand, our members can earn Points on flights around the world and this initiative is another way they can be rewarded right throughout their journey.

“We look forward to sharing more about the Global Wallet’s unique features when it launches in the coming months.

"We are also working with Rev Worldwide, a global payments specialist to deliver the product to market and we look forward to sharing more about the Global Wallet’s unique features when it launches in the coming months,” Mr Thompson said.

Visa’s Country Manager Australia Vipin Kalra said the new card featured smart chip technology and the convenience of Visa payWave to enable fast, contactless payments.

“Australians are increasingly attracted to faster and smarter ways to pay and are using cash less and less often. The Global Wallet is an innovative new product that will appeal to consumers looking for an easy way to make everyday purchases, as well as better manage their money when travelling overseas.

“The ability to load money into multiple currencies allows them to lock in favourable exchange rates and shop at more than 30 million merchant locations worldwide,” Mr Kalra said.

Leading up to the card’s launch, Velocity Frequent Flyer will be inviting existing eligible members to request their free new membership card via email.

Members who receive the card can decide if and when they use the card’s Global Wallet™ functionality by activating the card online at any time.